GBPUSD Daily Analysis – January 14, 2015

GBPUSD broke above the upper line of the price channel on 4-hour chart, indicating that lengthier consolidation for the downtrend from 1.5785 is needed. Range trading between 1.5034 and 1.5300 would likely be seen in a couple of days. However, as long as 1.5300 resistance holds, the downtrend could be expected to resume, and one more fall towards 1.4500 is is still possible after consolidation.

gbpusd chart